Abu Dhabi's property market "remains 18-24 months behind Dubai and is not expected to to experience an upturn in 2013", according to Jones Lang LaSalle's MENA region CEO Alan Robertson.
According to the firm's latest report on the market, the property sector in Abu Dhabi remains "heavily reliant on the Government investing revenue surpluses" in infrastructure and economic development projects in order to stimulate private sector jobs growth and demand for property.
Abu Dhabi's Executive Council last week announced plans to invest $90bn on capital and infrastructure projects with a view to reducing long-term reliance on oil & gas, with much of the money pledged towards building social infrastructure such as healthcare, education and housing facilities.
Abu Dhabi's property market will struggle in 2013 | ConstructionWeekOnline.com
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